Is Biden’s Budget Proposal Fiscally Sound?

Is Biden’s Budget Proposal Fiscally Sound?
President Joe Biden speaks to members of the press prior to a Marine One departure from the White House in Washington on March 23, 2022. Alex Wong/Getty Images
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President Joe Biden is advertising his 2023 budget proposal as being fiscally solvent, but critics say claims that it lowers the deficit are misleading.

When Biden first announced the budget plan Monday he listed “fiscal responsibility” as its first value, noting a more than $350 billion cut to the deficit last year and a projected $1.3 trillion cut this year.